Real Estate Salesperson Practice Exam 2
Questions and Answers (Verified Answers)
with Rationales 2025
1. Which of the following is considered real property?
A. Farm equipment
B. Mineral rights
C. Trade fixtures
D. A mobile home not attached to land
Rationale: Mineral rights are considered real property as they are part of the
land.
2. The primary purpose of a deed is to:
A. Provide evidence of a mortgage
B. Transfer ownership of real property
C. Secure a promissory note
D. Record property taxes
,Rationale: A deed is the legal document used to transfer ownership from one
party to another.
3. Which type of listing gives a broker the greatest chance of earning a
commission?
A. Open listing
B. Exclusive right-to-sell listing
C. Exclusive agency listing
D. Net listing
Rationale: The exclusive right-to-sell listing guarantees the broker commission
regardless of who sells the property.
4. What is the fiduciary duty that requires agents to act honestly and avoid
exaggeration?
A. Loyalty
B. Honesty and fair dealing
C. Obedience
D. Care
Rationale: Agents owe customers honesty and fair dealing; this prevents
misrepresentation.
5. What is the difference between a general agent and a special agent?
A. A general agent has broader authority
B. A special agent has ongoing duties
, C. A special agent handles all financial transactions
D. A general agent performs a single transaction
Rationale: A general agent can handle a range of activities (e.g., property
managers), while a special agent performs specific duties (e.g., selling a home).
6. A buyer’s earnest money deposit is usually held by:
A. The seller
B. The listing broker’s trust account
C. The buyer's bank
D. The buyer’s attorney
Rationale: Earnest money is usually placed in the listing broker's trust account
until closing.
7. What is the term for a right to use someone else's land for a specific purpose?
A. License
B. Lien
C. Easement
D. Encroachment
Rationale: An easement grants one party the legal right to use another’s land
for a particular purpose (e.g., utility access).
8. The Fair Housing Act prohibits discrimination in housing based on all of the
following EXCEPT:
A. National origin
Questions and Answers (Verified Answers)
with Rationales 2025
1. Which of the following is considered real property?
A. Farm equipment
B. Mineral rights
C. Trade fixtures
D. A mobile home not attached to land
Rationale: Mineral rights are considered real property as they are part of the
land.
2. The primary purpose of a deed is to:
A. Provide evidence of a mortgage
B. Transfer ownership of real property
C. Secure a promissory note
D. Record property taxes
,Rationale: A deed is the legal document used to transfer ownership from one
party to another.
3. Which type of listing gives a broker the greatest chance of earning a
commission?
A. Open listing
B. Exclusive right-to-sell listing
C. Exclusive agency listing
D. Net listing
Rationale: The exclusive right-to-sell listing guarantees the broker commission
regardless of who sells the property.
4. What is the fiduciary duty that requires agents to act honestly and avoid
exaggeration?
A. Loyalty
B. Honesty and fair dealing
C. Obedience
D. Care
Rationale: Agents owe customers honesty and fair dealing; this prevents
misrepresentation.
5. What is the difference between a general agent and a special agent?
A. A general agent has broader authority
B. A special agent has ongoing duties
, C. A special agent handles all financial transactions
D. A general agent performs a single transaction
Rationale: A general agent can handle a range of activities (e.g., property
managers), while a special agent performs specific duties (e.g., selling a home).
6. A buyer’s earnest money deposit is usually held by:
A. The seller
B. The listing broker’s trust account
C. The buyer's bank
D. The buyer’s attorney
Rationale: Earnest money is usually placed in the listing broker's trust account
until closing.
7. What is the term for a right to use someone else's land for a specific purpose?
A. License
B. Lien
C. Easement
D. Encroachment
Rationale: An easement grants one party the legal right to use another’s land
for a particular purpose (e.g., utility access).
8. The Fair Housing Act prohibits discrimination in housing based on all of the
following EXCEPT:
A. National origin
